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Sales and Use Tax System

A domestic tax calculation solution for retail Point of Sale (POS) transactions

Taxware’s Sales and Use Tax System is a tax calculation and reporting system that is built upon industry-leading tax research and proven technology. Operating as an integral part of your existing financial or accounting system, the Sales and Use Tax System automatically calculates taxes for sales, use, purchases and rentals.

  • The Sales and Use Tax System is the right choice for businesses that operate within the confines of the United States and/or Canada, operate regionally, or are looking for a tax calculation solution for their U.S. or Canadian operations. Taxware’s Sales and Use Tax System can help lower your company’s total cost of tax compliance while freeing your staff to focus on higher-level activities such as planning and analysis. This system delivers:Scalability to accommodate multiple business models
  • Superior POS functionality for both invoice and line-level processing
  • Precise taxing jurisdiction assignments through VeraZip or GeoTax
  • Sales tax exemption processing (STEP)

Taxware offers a variety of installation options so you can select the approach that best suits your company. For example, our Product Taxability Matrix can be installed on individual cash registers, on store servers to be shared among registers, or on a central server to be shared among stores.

Taxware’s Sales and Use Tax System is fully automated, including built-in functionality to protect against audits, obsolete data and changing tax laws. It covers all U.S. and Canadian tax jurisdictions and the content is updated at least once a month.

Key features

  • Completes all tax calculations, including exemptions, special rates, caps and thresholds
  • Seamlessly transmits tax calculation results to your business's accounting or finance software for presentation on a transaction document or UI screen
  • Records tax-calculation results in the Sales and Use Tax System Audit File for later reporting
  • Provides comprehensive reporting with line-item detail
  • Includes a comprehensive Product Taxability Matrix
  • Handles full and partial exemptions and has the ability to prevent overrides
  • Updated, researched, maintained and constantly expanded by our in-house tax research team
  • Includes a database of rules for thousands of situations, including full and partial exemptions, special rates, caps and thresholds
  • Contains over 2,000 classifications of products and services
  • Possesses the ability to map products to the Matrix and add customized product codes unique to your business
  • Produces a detailed file for internal and external audits
  • Resulting data may be fed into the Taxware filing solution (TaxSolver®) for automated tax returns and reporting
  • Addresses tax compliance for purchases with consumer's use tax capabilities
  • Allows for tax decisions by vendor, business location, product, service, cost center or project
  • Provides ease of use with graphical user interface (GUI)

Tax professionals can set up and maintain the Sales and Use Tax System with minimum IT support

  • Security features control access to specific functions
  • Product mapping
  • Report generation
  • Tax rate and code updates

Easy administration of tax-collection obligations

  • Allows establishment of multiple or separate business location profiles, regardless of location-specific taxing requirements
  • Provides ability to turn off the taxing jurisdictions where your business does not have a tax-collection obligation
  • Assists with taxing jurisdiction assignment through VeraZip Link to VeraZip
  • Provides a simple and flexible solution using current, address-driven methodology based on zip codes
  • Interfaces with your company's enterprise system, providing tax jurisdiction assignment
  • Identifies zip codes within multiple counties and/or cities, and outside city-limit conditions
  • Captures additional information, such as county name and code

Sales tax exemption processing (STEP): the industry's only buy-side/sell-side exemption processing

  • Customizes the maintenance of tax-exemption records by storing and tracking exemption certificates for future use
  • Integrates with a client's billing or invoicing system through Taxware’s Sales and Use Tax System
  • Helps you avoid costly exemption errors

Complete exemption flexibility

  • Automatically calculates exemptions by location, product or service, customer, vendor, cost center, business location, project, job or any combination of the above
  • Allows for customization of exemptions for any client or vendor transaction
  • Permits selection of tax jurisdiction level to which the exemption will apply
  • Creates a complete log of tax-exempt certificates
  • Allows total control over tax-exempt client and/or vendor criteria by the tax department
  • Identifies certificates nearing expiration and flags them in advance of expiration date

Software & Services

Taxware Sales Tax Service (STS)
Taxware Enterprise (TWE)
Taxware Sales & Use Tax System (SUT)
Taxware Value Added Tax(VAT)

Taxware Resources

Data Sheets
TaxPacks
Case Studies
Webcasts
Sales Tax Holidays

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